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Fossil Group Tops 3Q Forecasts

Fossil Group Inc. on Tuesday reported third-quarter earnings of $103.7 million. The results beat Wall Street expectations.
Fossil's 'Wakefield' chronograph watch | Source: Fossil
By
  • Associated Press

TEXAS, United States — Fossil Group Inc. on Tuesday reported third-quarter earnings of $103.7 million.

The Richardson, Texas-based company said it had profit of $1.96 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.

The watch and accessories maker posted revenue of $894.5 million in the period, also surpassing Street forecasts. Analysts expected $878.5 million, according to Zacks.

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Fossil Group expects full-year earnings to be $7 to $7.30 per share.

Fossil Group shares have dropped 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 10 percent. In the final minutes of trading on Tuesday, shares hit $103.55, a drop of 19 percent in the last 12 months.

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